1 reviews | Active since Jul 2016
Absa Home Employees Provident Fund
<p>We took on two provident funds with funeral cover for our two domestic workers. The one worker has died and we have been unable to obtain a payout for his family. The one child does not have an ID now all four children has had to suffer. My second worker lost faith in this financial product as a result and decided to withdraw her funds from this fund. Lo and behold she is unable to do so since Absa has once again dismissed the paperwork we have submitted. Absa would like her to return to court and obtain a new divorce order as the once she already is apparently lacking. Once they find a reason for the payout to stall the cas just drags on. I would seriously like to know frm Absa what happens to all these socalled 'unclaimed' funds.</p> <p>This has caused great hardship to two marginalised families and Absa's response has been opaque and callous to say the least. I would seriously recommend that you NEVER get your workers involved with this product or Absa for that matter. In the end you will be up against a stony legal department who has no interest in paying out. </p> <p>I am so outraged by Absa and their processes at this stage and totally rue the day we ever wasted a penny on creating a socalled provident and cover for our workers. </p> <p> </p>
Dear Customer
Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.
Kind regards
Vanessa Crowe
Group Customer Care
Absa Bank Ltd
Dear Customer
Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.
Kind regards
Vanessa Crowe
Group Customer Care
Absa Bank Ltd
Thank you for your reply. I am glad to report that shortly after posting this hellopeter review I was contacted by Absa to confirm that the funds was going to be paid out. The reply was unrelated to my hellopeter review, so I would like to praise them for their service in this regard and alter my complaint and my rating of their service. My concerns with regard to these type of products remain, but in fairness I also have to add that Absa is constrained by the legislative process and that the non-Absa financial adviser is to blame for the many of the communication frustrations. The process of getting a provident fund to pay out is entirely determined by dotting every i, but the fact is that marginalised people's lives are filled with administrative holes. Now that one fund has paid out, the other family may have renewed hope and I will be working with them to assist them in plugging their paperwork holes.
Thank you for your reply. I am glad to report that shortly after posting this hellopeter review I was contacted by Absa to confirm that the funds was going to be paid out. The reply was unrelated to my hellopeter review, so I would like to praise them for their service in this regard and alter my complaint and my rating of their service. My concerns with regard to these type of products remain, but in fairness I also have to add that Absa is constrained by the legislative process and that the non-Absa financial adviser is to blame for the many of the communication frustrations. The process of getting a provident fund to pay out is entirely determined by dotting every i, but the fact is that marginalised people's lives are filled with administrative holes. Now that one fund has paid out, the other family may have renewed hope and I will be working with them to assist them in plugging their paperwork holes.